Diamondback Energy Inc Expected to Earn Q2 2018 Earnings of $1.51 Per Share (FANG)

Diamondback Energy Inc (NASDAQ:FANG) – Equities researchers at Seaport Global Securities upped their Q2 2018 EPS estimates for Diamondback Energy in a research note issued on Wednesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will earn $1.51 per share for the quarter, up from their previous estimate of $1.34. Seaport Global Securities also issued estimates for Diamondback Energy’s Q3 2018 earnings at $1.68 EPS and Q4 2018 earnings at $1.82 EPS.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 13th. The oil and natural gas company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. The company had revenue of $399.19 million during the quarter, compared to analysts’ expectations of $370.74 million. Diamondback Energy had a net margin of 40.02% and a return on equity of 9.74%.

A number of other analysts have also recently commented on the stock. Barclays reiterated a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a research note on Sunday, December 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $138.00 target price on shares of Diamondback Energy in a research note on Tuesday, January 9th. KeyCorp reiterated an “overweight” rating and issued a $125.00 target price (up from $117.00) on shares of Diamondback Energy in a research note on Tuesday, November 7th. BidaskClub upgraded shares of Diamondback Energy from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Credit Suisse Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $123.00 target price for the company. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $136.70.

Shares of Diamondback Energy (FANG) opened at $122.83 on Thursday. The company has a market cap of $11,292.18, a P/E ratio of 21.58, a P/E/G ratio of 0.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.46 and a quick ratio of 0.45. Diamondback Energy has a 12 month low of $82.77 and a 12 month high of $134.52.

In related news, insider Michael L. Hollis sold 10,000 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael L. Hollis sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $129.34, for a total transaction of $388,020.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,400 shares of company stock valued at $8,337,200. Company insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Viking Fund Management LLC lifted its stake in shares of Diamondback Energy by 6.3% in the 3rd quarter. Viking Fund Management LLC now owns 220,000 shares of the oil and natural gas company’s stock valued at $21,551,000 after purchasing an additional 13,000 shares during the period. IBM Retirement Fund acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $960,000. Sterling Capital Management LLC lifted its stake in shares of Diamondback Energy by 21.0% in the 3rd quarter. Sterling Capital Management LLC now owns 37,872 shares of the oil and natural gas company’s stock valued at $3,710,000 after purchasing an additional 6,575 shares during the period. Gluskin Sheff & Assoc Inc. lifted its stake in shares of Diamondback Energy by 221.5% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 13,150 shares of the oil and natural gas company’s stock valued at $1,288,000 after purchasing an additional 9,060 shares during the period. Finally, Strategic Global Advisors LLC purchased a new stake in Diamondback Energy in the 3rd quarter worth $573,000.

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Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.

Earnings History and Estimates for Diamondback Energy (NASDAQ:FANG)

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